Legal Question in Business Law in Illinois

excercise equipment leasing

i want to allow someone to lease some equipment that i own. i want them to be liable for replacing it if its damaged


Asked on 5/02/07, 5:43 pm

2 Answers from Attorneys
Noelle Ansley Noelle Ansley

Re: excercise equipment leasing

You will need to get a lease agreement with a provision in it stating that if the equipment is damaged, the lessor is liable for damages equal to the value of the equipment at the time the damage occurs. You will not get the full, like-new replacement value because the equipment will depreciate in value as it ages.

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Answered on 5/02/07, 7:42 pm

Re: excercise equipment leasing

You need to hire an attorney to draft a lease that has proivisions that will protect you. A form will not do.

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Answered on 5/02/07, 8:47 pm


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